...Corporate India's scorecard for the latest March-ended quarter has little to offer by way of cheer, with profits after tax for the 3000-odd companies to have declared results so far falling more than 13 per cent over the previous year. That shouldn't really surprise, given a weak rupee, which has pushed up costs of imported inputs, and very little moderation in interest payouts, despite the Reserve Bank of India (RBI) initiating a cut in its policy rates. In any case, the latest decline is only a continuation of a trend of declining profits that began two quarters ago. What is truly disturbing about the March quarter results is the weakening sales momentum. Annual sales growth, which was holding up at over 20 per cent in the past many quarters, has dropped to below 13 per cent......
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